Symantec 2016 Annual Report Download - page 64

Change of Control and Severance Arrangements: The vesting of certain stock options, RSUs and PRUs
held by our named executive officers will accelerate if they experience an involuntary (including constructive)
termination of employment under certain circumstances. For additional information about these arrangements,
including arrangements pertaining to Mr. Brown in connection with the CEO Transition, see “—Other Bene-
fits—Change of Control and Severance Arrangements” below and “Potential Payments Upon Termination or
Change in Control,” below.
Other Awards
Certain business conditions may warrant using additional compensation approaches to attract, retain or
motivate executives. Such conditions include acquisitions and divestitures, attracting or retaining specific or
unique talent, and recognition for exceptional contributions. In these situations, the Compensation Committee
considers the business needs and the potential costs and benefits of special rewards.
Other Benefits
All named executive officers are eligible to participate in our 401(k) plan (which includes our matching
contributions), health and dental coverage, life insurance, disability insurance, paid time off, and paid holidays on
the same terms as are available to all employees generally. These rewards are designed to be competitive with
overall market practices, and are in place to attract and retain the talent needed in the business. In addition,
named executive officers are eligible to participate in the deferred compensation plan, and to receive other bene-
fits described below.
Deferred Compensation: Symantec’s named executive officers are eligible to participate in a nonqualified
deferred compensation plan that provides management employees on our U.S. payroll with a base salary of
$150,000 or greater (including our named executive officers) the opportunity to defer up to 75% of base salary
and 100% of cash bonuses for payment at a future date. This plan is provided to be competitive in the executive
talent market, and to provide executives with a tax-efficient alternative for receiving earnings. None of our
named executive officers participated in this plan during fiscal 2016. The plan is described further under “Non-
Qualified Deferred Compensation in Fiscal 2016,” on page 66.
Additional Benefits: Symantec’s named executive officers typically do not receive perquisites, except in
limited circumstances when deemed appropriate by the Compensation Committee. For example, an additional
benefit available to named executive officers is reimbursement for up to $10,000 for financial planning services.
In addition, Mr. Seifert received reimbursement for certain relocation expenses associated with his move to the
San Francisco Bay Area in 2014, a portion of which was paid to him in fiscal 2015 and fiscal 2016. For similar
reasons, beginning in August 2016 we maintain an apartment for our new President and Chief Operating Officer
who resides in another state at a cost of approximately $5,100 per month. The Compensation Committee pro-
vides certain perquisites because it believes they are for business-related purposes or are prevalent in the market-
place for executive talent. The value of the perquisites we provide is taxable to the named executive officers and
the incremental cost to us for providing these perquisites is reflected in the Summary Compensation Table.
(These benefits are disclosed in the All Other Compensation column of the Summary Compensation Table on
page 58).
Change of Control and Severance Arrangements: Our Executive Retention Plan provides (and, in the case
of PRUs, the terms of the PRUs provide) participants with double trigger acceleration of equity awards and, if
applicable, become immediately exercisable, where equity vesting and exercisability is accelerated only in the
event the individual’s employment is terminated without cause, or is constructively terminated, within 12 months
after a change in control of our company (as defined in the plan). In the case of PRUs, PRUs will vest at target if
the change in control occurs prior to the first performance period, will vest as to eligible shares if the change in
control occurs following the first performance period but before achievement is determined with respect to the
second performance period, and will vest as to the sum of the eligible shares determined to be earned for the
second performance period plus 50% of the eligible shares if the change in control occurs following the second
performance period but before achievement is determined with respect to the third performance period.
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